Saudi Basic Industries Corp. — Capital/Financing Update 2022

Nov 24, 2022

Saudi Basic Industries Corporation (SABIC) announces its intention to study the establishment of a complex to convert oil and liquids into chemicals in Ras Al-Khair, in the Kingdom of Saudi Arabia

2010 · 24/11/2022 08:25:41 · Announcement #71130 · View on Saudi Exchange

Saudi Basic Industries Corporation (SABIC) announces its intention to study the establishment of a complex to convert oil and liquids into chemicals in Ras Al-Khair, in the Kingdom of Saudi Arabia

Element List	Explanation
Announcement Detail	SABIC announces its intention to study the establishment of a complex to convert oil and liquids into chemicals in Ras Al-Khair, in the Kingdom of Saudi Arabia. The complex is expected to convert 400,000 barrels per day of oil into chemicals.

This project is part of SABIC’s strategic growth plans as well as contributing to the realization of the Kingdom’s program to convert oil and its liquids into chemicals.

SABIC also affirms its commitment to continue developing crude oil to chemicals technologies, which contributes to increasing cost efficiencies and value creation opportunities in the energy and chemical industry on a larger scale.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.